[154 Pages Report] The global Corporate Learning Management System (LMS) market size was valued at USD 1.65 Billion in 2017 and is projected to reach USD 7.12 Billion by 2023, at a CAGR of 28.2% during the forecast period. The base year for the report is 2017, and the forecast period is 20182023.

The Corporate Learning Management System market report aims at estimating the market size and growth potential of the market across segments: component (solution and service), delivery mode, organization size, deployment type, vertical, and region. The primary objective of the report is to provide a detailed analysis of the major factors (drivers, restraints, opportunities, industry-specific challenges, and recent developments) influencing the market growth, analyze the market opportunities for stakeholders, and offer details of the competitive landscape to the market leaders.

The research methodology used to estimate and forecast the Corporate Learning Management System market size began with capturing data on the key vendor revenues through secondary sources, such as annual reports, ResearchGate, Springer, IEEE Xplore, press releases and investor presentations of companies, and white papers, certified publications, and articles from recognized associations and government publishing sources. Vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global corporate LMS market from the revenues of the key market players. After arriving at the overall market size, the market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key industry personnel, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of the primary discussion participants is depicted in the below figure:

The research report categorizes the corporate LMS to forecast the revenues and analyze the trends in each of the following subsegments:

By Component

Solutions

Standalone solution

Integrated solution

Services

Consulting services

Implementation services

Support services

By Delivery Mode

Distance learning

Instructure-led training

Blended learning

By Organization Size

Large enterprises

Small and Medium-sized Enterprises (SMEs)

By Deployment Type

On-premises

Cloud

By Vertical

Software and Technology

Healthcare

Retail

BFSI

Manufacturing

Government and Defense

Telecom

Others (energy and utilities, transportation and logistics, and travel and hospitality)

By Region

North America

Europe

Asia Pacific (APAC)

Middle East and Africa (MEA)

Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the companys specific requirements. The following customization options are available for the report:

Product Analysis

Product matrix provides detailed product information and comparison

Geographic Analysis

Further breakdown of the North American Corporate Learning Management System market

Further breakdown of the European market

Further breakdown of the APAC market

Further breakdown of the MEA market

Further breakdown of the Latin American market

Company Information

Detailed analysis and profiling of additional market players

MarketsandMarkets expects the global corporate Learning Management System (LMS) market size to grow from USD 2.06 Billion in 2018 to USD 7.12 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 28.2% during the forecast period. The major factors driving the Corporate Learning Management System market are continuous innovation in eLearning tools, increasing trend of BYOD and enterprise mobility, and growing emphasis on continuous learning.

The objective of the report is to define, describe, and forecast the Corporate Learning Management System market size by component (solution and service), delivery mode, deployment type, organization size, vertical, and region. Among components, the solutions segment is expected to hold a larger market size during the forecast period, as there is an increasing need for corporate LMS for training customers, employees, franchisees, retailers, suppliers, resellers, and partners; and compliance training, channel training, and others.

Among services, the implementation services segment is expected to grow at the fastest growth rate during the forecast period. These services in the Corporate Learning Management System market enable enterprises to customize, implement, and configure an LMS according to their business needs. They enable organizations to customize an LMS solution to match the organization-specific training workflow and user hierarchy, thereby improving the delivery and effectiveness of the training imparted.

Among deployment types, the cloud deployment type is expected to hold a larger market share than the on-premises deployment type. Many corporate LMS users prefer the cloud deployment type, because of its cost-effectiveness and related benefits. The cloud deployment type is highly scalable, flexible, and cost-efficient, and provides the pay-per-use model, depending upon the requirements of end-users.

Among verticals, the software and technology vertical is estimated to hold the largest market size in the Corporate Learning Management System market in 2018. Companies in the software and technology vertical face greater needs of training their employees, as the technology in this vertical changes much faster than any other vertical, and companies need to be competitive. It is the fastest evolving vertical in an economy, and there is some new information available every day, because of which it becomes essential to keep employees informed about the latest developments. As companies in the software and technology vertical experience rapid technology changes and innovations, they require a solution that can quickly respond to new challenges, offer scalability to thousands of learners, and cater to the learning needs of employees in various locations and countries.

North America is expected to hold the largest market size in the Corporate Learning Management System market during the forecast period. The increasing use of eLearning tools and technological advancements in learning methodologies have boosted the overall corporate LMS market growth in North America. Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. Several factors are expected to drive the markets significant growth in the APAC region. Companies in APAC have started adopting LMS solutions, due to the regional presence of major IT companies. APAC organizations are trying to gain better ROI on talent development, assess their employee learning requirements, impart proper employee training, and receive quantifiable business outcomes. As many organizations have tight learning budgets, they prefer technology-enabled learning approaches to offer training and resources to their employees, which helps organization maintain cost-effectiveness.

Continuous innovation in eLearning tools, increasing trend of BYOD and enterprise mobility, and growing emphasis on continuous learning are expected to drive the global market. However, low motivation and engagement by organizations may hinder the market growth and act as a restraining factor that can hamper adoption rate of the corporate LMS.